News Column

Vale, Bank of China Sign USD2.5bn Financing Agreement

July 18, 2014

SHANGHAI, July 18, SinoCast -- Brazilian mining company Vale stated on July 17 that the company signed a not more than USD 2.5 billion financing agreement with Bank of China, which deepens relationship between Vale and China, the world second largest economy and the biggest raw material importer.

Vale and Bank of China signed a MOU at a ceremony held by Brazilian president Dilma Rousseff and Chinese president Xi Jinping.

The financing, with a term of three years, can be syndicated loans, bilateral loans, export credit and trade financing.

Vale shows that the credit arrangement, together with other financing opportunities, will be used to buy equipment, commodities and services from China for the company's projects in Brazil and overseas.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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